Internationally Managed Money Supply

Abstract

Since the title of this paper is not self-explanatory, we start with a taxonomic section before discussing three possible forms of international management of national money supplies. Elements of such management can be achieved either by committee or by rules or by inventing a stateless money which has a chance of becoming dominant over national moneys in international use. History and prospects of attempts to bring greater international influence to bear on national money supply processes are appraised in the concluding section.

The author is indebted to Robert E. Cumby for helpful suggestions and comments. The usual disclaimer of institutional responsibility applies.